Funding arb · Price arb /

EWJ

RWAall EWJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0208%/8h= −22.8% APRpaid last 24h +0.010%

Price spread now: Hotstuff against MEXC−0.020%55s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Hotstuff is 0.020% cheaper against MEXC than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC EWJ_USDT	97.600	0	get 0.0000% / 8h	7h 38m	$403K	$105K	20x
Short	Hotstuff EWJ-PERP	97.580	−0.0208	pay 0.0026% / 1h	38m 41s	$34K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee MEXCbpFee HotstuffbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$43.68
Price spread: −0.020% → 0.000%: −$2.05
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$50.73
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 32 min ago; Hotstuff: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy MEXC live order book, 32 min ago	0.51 bp	7.8 bp −$8	16.7 bp −$167	53.9 bp −$5,390	134.6 bp −$67.3K
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

EWJ on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff EWJ-PERPshort	−0.0208%	1h	97.580	−0.020%	$34K	—	20x
Aster EWJUSDT	0.0000%	8h	97.656	+0.057%	$15K	$962	20x	as long as short
Binance EWJUSDT	0.0000%	8h	97.610	+0.010%	$1.1M	$860K	20x	as long as short
Bybit EWJUSDT	0.0000%	8h	97.590	−0.010%	$191K	$24K	25x	as long as short
OKX EWJ-USDT-SWAP	0.0000%	8h	97.670	+0.072%	$296K	$113K	20x	as long as short
Gate EWJ_USDT	0.0000%	8h	97.590	−0.010%	$341K	$179K	25x	as long as short
MEXC EWJ_USDTlong	0.0000%	8h	97.600	long leg	$403K	$105K	20x
Bitget EWJUSDT	0.0000%	8h	97.550	−0.051%	$738K	$143K	20x	as long as short
Variational Omni EWJ	0.0000%	8h	97.584	−0.016%	$109K	$23K	—	as long as short
GRVT EWJ_USDT_Perp	0.0000%	8h	97.630	+0.030%	$626K	$406K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX EWJ-USDT	0.0000%	8h	97.541	−0.060%	$1K	$1.4M	20x	as long as short
HTX EWJ-USDT	0.0000%	8h	97.475	−0.128%	$8K	$38K	20x	as long as short
BloFin EWJ-USDT	+0.0002%	8h	97.630	+0.031%	$43K	$68K	20x	as long as short
KuCoin EWJUSDTM	+0.0100%	8h	97.580	−0.020%	$151K	$1.0M	20x	as long as short
tradeXYZ xyz:EWJ	+0.0102%	1h	97.588	−0.012%	$1.4M	$545K	20x	as long as short
edgeX EWJUSDC	+0.0181%	4h	97.587	−0.013%	$595K	$232K	20x	as long as short